Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 41 | Forex Factory

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Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

  • #801
  • Oct 4, 2007 2:59pm Oct 4, 2007 2:59pm
Imran, disregarding your thoughts that the yen pairs are gonna fall tonight. Would you have taken this long trade considering the blue lag had already gone so high before the red lag actually hit bottom?
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  • #802
  • Oct 4, 2007 3:00pm Oct 4, 2007 3:00pm
dow jones index turns to positive en close at 76.7 + 6.90 points1397
  • #803
  • Oct 4, 2007 3:04pm Oct 4, 2007 3:04pm
Quoting bullseye
Just curious to know what smoothing factor you are using for the qqe
12, consider it as 3 hours, since i use 15 min TF mainly.
  • #804
  • Oct 4, 2007 3:05pm Oct 4, 2007 3:05pm
Quoting fss side
Imran, disregarding your thoughts that the yen pairs are gonna fall tonight. Would you have taken this long trade considering the blue lag had already gone so high before the red lag actually hit bottom?
No, i would not have taken the long trade, maybe for some quick pips yes
  • #805
  • Oct 4, 2007 3:08pm Oct 4, 2007 3:08pm
Quoting imransait
The Laguerre is a advanced version of RSI but without the noise of RSI, so the signals are much stronger and reliable. I have been experimenting with the gamma setting and found 0.55 to 0.60 to be good for Blue lag and 0.8 to 0.85 for the Red Lag

Because of the gamma setting, the blue lag always catches the trend first and also exits it first..but the Red lag is where the trend actuall ends...so if ur in a long trade..u wait for the Red Lag to come down to bottom and then reverse till 0.10 to 0.15 and vice versa for short
my red lag is 0.55, my blue lag is 0.85, now the problem is that sometimes, blue acts earlier than red.

another 2 examples:
see the 2 vertical red lines at the attached.
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  • #806
  • Oct 4, 2007 3:13pm Oct 4, 2007 3:13pm
Quoting imransait
short will win...wait till DOW closes
Thats trading with emotions....very bad!
  • #807
  • Oct 4, 2007 3:17pm Oct 4, 2007 3:17pm
Quoting imransait
No, i would not have taken the long trade, maybe for some quick pips yes
I agree, this type of signal is a typical "NO GO". we should've stick to the rules of 2 Lags.

No system can catch all trends. This is not a problem at all.

Just my 1 cent, this type "fast Lag rise, while slow Lag down" is usually a bad trade.
  • #808
  • Oct 4, 2007 4:26pm Oct 4, 2007 4:26pm
Hello Traders,

I've been following this thread since day one and I'd like to say that Imran you deserve to be commended for all the hard work and explanations and help that you have so unselfishly given to all of us traders. This world could use a lot more people like you! May God continue showering his blessings on you and you're family.

I'm posting an EMA Crossover Alert that I thought might help us all.

Just enter the 2 EMA values [ fast & slow ] and the alert will make a sound and also a pop up window will appear on your screen indicating crossover trending up or down, plus it will plot arrows on your chart. It's not necessary to actually plot the EMA's on your chart if you don't want to clutter up the look of your chart. The arrows will appear with or without the EMA lines on the chart.

I use the alert for the 60 EMA crossing the 200 EMA because as Imran has said when 60 crosses 200 a big move can follow. This way I can watch the Gbp/Jpy on my screen yet be alerted when any crossover occurs on any of the other 10 currency pairs I have, that are minimized on my platform.

I hope this indicator will be of some use and help for all of you.

Take care and "Happy Trading" everyone!!

P.S. Thanks a million Imran, I appreciate all that you do for us....T-Wolf
Attached File(s)
File Type: ex4 EMA Crossover Signal.ex4   4 KB | 1,065 downloads
  • #809
  • Oct 4, 2007 4:40pm Oct 4, 2007 4:40pm
Here's an example of EMA alert arrows on a chart. 60 and 200 EMA crossover.
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  • #810
  • Oct 4, 2007 5:02pm Oct 4, 2007 5:02pm
Quoting imransait
u can use the tpl in Post #1 , the other one has some different settings i was trying, i prefer the first one

do post some of ur trades here, thanks
Thanks for the clarification, I appreciate it
  • #811
  • Oct 4, 2007 5:20pm Oct 4, 2007 5:20pm
Quoting thunderwolf
Here's an example of EMA alert arrows on a chart. 60 and 200 EMA crossover.
Thanks, I just loaded it. Works great!
  • #812
  • Oct 4, 2007 5:21pm Oct 4, 2007 5:21pm
Quoting thunderwolf
Here's an example of EMA alert arrows on a chart. 60 and 200 EMA crossover.
Is it just me, or do the crossovers happen too late on 2 of the 3 arrows? It seems like if you traded based on those crosses you would have lost 2 out of 3 trades.

Granted you don't trade based on only the EMA crosses alone, but just saying.
  • #813
  • Oct 4, 2007 5:34pm Oct 4, 2007 5:34pm
Here's an example of what I'm talking about with the EMA.

Look at this chart. The EMA crosses, there's a HUGE upward candle during the same 1 minute period.

You see the EMA crossed, your indicator makes it's sound, so you buy. It never moves a single pip in the right direction and you hit your stop loss 5 mins later.

Now, it did move in an upward over-all TREND after that cross, but you'd need a 40+ pip S/L to even stay in it.

Now, again, you would never trade just based off EMA, because if you look at the lags this is NOT a good entry point. However, I just wanted to show how the EMA can screw you if you're not careful.

EMA can be a very powerful tool in predicting a big move, but don't forget the basics.
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  • #814
  • Oct 4, 2007 5:40pm Oct 4, 2007 5:40pm
Hello,

EMA 200 and 60 jointed in one line pips are sitting on the lines.

Nobody buys.Pips are sleeping.LOL.

Place your bets. E/J and B/J 12.39 LONDON TIME.

Basil
Learn something difficult and earn real money for ever, a lot.
  • #815
  • Oct 4, 2007 5:50pm Oct 4, 2007 5:50pm
Quoting BFried
Is it just me, or do the crossovers happen too late on 2 of the 3 arrows? It seems like if you traded based on those crosses you would have lost 2 out of 3 trades.

Granted you don't trade based on only the EMA crosses alone, but just saying.
Hi BFried,

You are right about not using the indicator as a buy or sell signal. It's purpose is to alert you that a crossover has occured then it's up to the trader to do an analysis according to the Laguerre brothers and Bollinger band along with Support and Resistance. This way you're notified that a possible change in trend is occuring and to be aware that big moves could be on the way.

Thanks for bringing that up BFried, I'll post a warning to not use this alert as an entry signal.....T-Wolf
  • #816
  • Oct 4, 2007 5:59pm Oct 4, 2007 5:59pm
Hi traders,

Please be aware that the EMA alert crossover I posted earlier is not to be used as an entry signal. It's just to let you know a crossover has happened on whatever charts you have loaded on your platform. It could be a time to enter but check your Leguerre signals and other analysis first.

Thanks.....T-Wolf
  • #817
  • Oct 4, 2007 6:32pm Oct 4, 2007 6:32pm
Quoting thunderwolf
Hi BFried,

Thanks for bringing that up BFried, I'll post a warning to not use this alert as an entry signal.....T-Wolf
No problem. I'm glad you didn't take it the wrong way! Thanks for posting the warning .
  • #818
  • Oct 4, 2007 7:08pm Oct 4, 2007 7:08pm
Quoting crossover
Thats trading with emotions....very bad!
it was based on the 15min and 30 min indicator position . Sometimes the asian session is too slow to take the moves, by tomm london open we should have more clarity
Without emotion, there is no fun in trading
  • #819
  • Oct 4, 2007 7:11pm Oct 4, 2007 7:11pm
Quoting BFried
Here's an example of what I'm talking about with the EMA.

Look at this chart. The EMA crosses, there's a HUGE upward candle during the same 1 minute period.

You see the EMA crossed, your indicator makes it's sound, so you buy. It never moves a single pip in the right direction and you hit your stop loss 5 mins later.

Now, it did move in an upward over-all TREND after that cross, but you'd need a 40+ pip S/L to even stay in it.

Now, again, you would never trade just based off EMA, because if you look at the lags this is NOT a good entry point. However, I just wanted to show how the EMA can screw you if you're not careful.

EMA can be a very powerful tool in predicting a big move, but don't forget the basics.
During the crossover , either down or up, you need to wait for candle to touch the ema first before placing a trade and also need to check the Lag indicator what it is indicating, so as to confirm your trade

the crossovers in 1min are sometimes false breaks, so check in higher timeframes also
  • #820
  • Oct 4, 2007 7:16pm Oct 4, 2007 7:16pm
Quoting imransait
it was based on the 15min and 30 min indicator position . Sometimes the asian session is too slow to take the moves, by tomm london open we should have more clarity
Without emotion, there is no fun in trading

Imran, Hi!! I got a question, u mention london open... Exist a better time to trade ? it will be at london and dow open time?

Thanks!
Pablo
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